Leslie's Inc 2025年度报告

Mission Statement We enable joy and elevate everyday moments through clean, safe, and beautiful pools. VALUES We create great experiences and lasting relationships with those we serve.We understand our customers’ needs, consider the impact on them in ourdecisions, and strive to make every experience easy, connected, and joyful. BE CUSTOMERFOCUSED Our Mission We are commited to providing consumers withthe expertise, service, and innovative productsnecessary to enjoy clean, safe, and beautifulpools and spas. Our Values Be Customer Focused Own the Outcome We value outcomes over activity, and holdourselves and each other to the higheststandards for how we perform every day.We proactively take ownership of how wespend time, dollars, and energy. We create great experiences and lastingrelationships with those we serve. Weunderstand our customers’ needs,consider the impact on them in ourdecisions, and strive to make everyexperience easy, connected, and joyful. Share Expertise Welcome Everyone We are the leading experts in our field, nomatter our role. We take pride in what weknow, share it willingly, and help othersunderstand. As partners in pool care, weact as trusted guides. As champions of diversity, equity, andinclusion, we create an environmentwhere everyone can proudly worktogether, do their best, and have funalong the way. Measure the Impact Invest in Innovation We work to align across all stakeholders—customers, shareholders, partners,employees, and environment—and striveto make a positive difference for people,planet, and the business in every decision. We see every moment as an opportunity todo better than the last time. We constantlylook to take leaps forward by investing inbig ideas and new technologies in everyaspect of the business. LETTER FROMJASON MCDONELLCHIEF EXECUTIVE OFFICERLESLIE’S, INC. Dear Fellow Shareholders, Looking ahead, we are confident in the fundamentals of ourbusiness and the durability of our model. Leslie’s benefits froma large, recurring customer base, non-discretionary demandcharacteristics, and a team with deep industry expertise. Ourpriorities remain clear: put the customer at the center ofeverything we do, continue our focus on convenience throughtransformation, improve our asset utilization, and balance itwith our continued focus on cost optimization. As a result, weaim to deliver consistent execution, strengthening margins overtime, thoughtfully investing in growth initiatives, and generatingsustainable shareholder value. Welcome to the Leslie’s, Inc. 2025 Annual Report. On behalf ofthe entire Leslie’s team, thank you for your continued supportand trust. Leslie’s has long stood for expertise, tailored advice, andunparalleled selection in pool and spa care, and fiscal year 2025was another year in which we leaned into those strengths whilenavigating a dynamic operating environment. Despite macroeconomic pressures and shifting consumer behavior,our focus remained on serving our customers with the high-qualityproducts, individualized advice, and customer service they expectfrom the nationwide leader in pool and spa care. Our teams acrossthe organization demonstrated resilience and discipline, prioritizingexecution, operational efficiency, and long-term value creation. Of course, none of this would be possible without our dedicatedteam members, whose commitment to our customers andcommunities they call home sets Leslie’s apart. I especially wantto thank our shareholders for your continued engagement andconfidence as we execute our strategy. A central pillar of our strategy continues to be deepening customerrelationships.Through our nationwide store footprint,digitalplatforms, and loyalty program, we are uniquely positioned to servepool and spa owners across every stage of ownership. This past year,we made meaningful progress in enhancing customer experience,launching a new Pool Perks® rewards program with membershiptiers, improved our “Never-Outs” rate above our expectations, andcontinued investing in new technology to refine our merchandisingand supply chain capabilities, improving assortment, availability andconvenience for the Leslie’s customer. We enter the coming year with focus, optimism, and a clear plan.We appreciate your support and look forward to updating youon our progress. Sincerely, We also remained focused on prudent cost management andbalance sheet discipline. While we are not satisfied with everyaspect of our performance, we believe the actions we took duringthe year better position Leslie’s to perform through growth, static,and challenging economic cycles, while preserving our ability tocapitalize on new areas of transformation and expansion. Jason McDonellChief Executive OfficerLeslie’s, Inc. UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWASHINGTON, D.C. 20549FORM 10-K(Mark One)☒ANNUALREPORTPURSUANTTOSECTION13OR15(d)OFTHESECURITIESEXCHANGEACTOF1934For the fiscal year ended October 4, 2025OR☐TRANSITIONREPORTPURSUANTTOSECTION13OR15